The M1 money supply for Australia is about $351 billon AUD or $281 billion USD.
https://fred.stlouisfed.org/series/MYAGM1AUM189S
"M1 comprises notes and coins held by the public and demand deposits of the private nonbank sector in banks."
RE: Let's re-evaluate what we think about money
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Let's re-evaluate what we think about money
yeah but demand deposits are counted seperately to notes and coins - which is essentially double counting in my opinion.
Even so... $351B is still a rather small percentage of the total sum of assets that the country purports to contain.
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